Industry & Economy
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Real Estate & Construction
Construction gets a body to lobby
Our Bureau
(From right to left) Mr N.K. Singh, Member, Planning Commission, Mr Gulabchand, Head of Construction Federation of India (CFI), and Mr Jaiprakash Gaur, Chairman, Jai Prakash Industries, at the inauguration of CFI in the Capital on Wednesday.
NEW DELHI, March 27
THE Construction Federation of India (CFI), affiliated to the Confederation of Indian Industries, was set up on Wednesday to lobby for the construction sector.
Inaugurating the CFI, Mr N.K. Singh, Member, Planning Commission, said the industry had good opportunities in the coming years with much infrastructure activities slated to take place.
``There is going to be very large public and private spending in setting up roads, ports, airports and other infrastructure facilities. If the economy is to grow more than eight per cent, then the infrastructure sector is the key,'' he said.
The annual average growth rate of the construction sector from 1999-2000 to 2005-06 is projected at about 7.4 per cent.
The construction industry currently employs over 32 million people and accounts for five per cent of the GDP and 37 per cent of all investments.
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